Insider Selling: ServiceTitan (NASDAQ:TTAN) Director Sells $5,988,743.45 in Stock

ServiceTitan Inc. (NASDAQ:TTAN) Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

William J.G. Griffith also recently made the following trade(s):

• On Monday, June 22nd, William J.G. Griffith sold 200 shares of ServiceTitan stock. The stock was sold at an average price of $63.01, for a total value of $12,602.00.

ServiceTitan Stock Performance

Shares of ServiceTitan stock opened at $69.20 on Friday. The firm has a 50-day moving average of $64.96 and a 200-day moving average of $75.61. The stock has a market cap of $6.60 billion, a PE ratio of -47.72 and a beta of 0.13. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same period in the prior year, the company posted $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ServiceTitan

Hedge funds have recently bought and sold shares of the company. Toth Financial Advisory Corp raised its position in shares of ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 174 shares in the last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC bought a new position in ServiceTitan in the fourth quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Wednesday, June 17th. TD Cowen increased their price target on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. BTIG Research increased their price target on ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Morgan Stanley raised their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Company Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.